Tex. Loc. Gov't Code § 116.058 · Subchapter C. SECURITY FOR FUNDS HELD BY DEPOSITORY
AMOUNT OF SECURITY REQUIRED.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) Personal or surety bonds that secure county deposits must be in an amount equal to the estimated highest daily balance of the county, as determined by the commissioners court. However, the commissioners court may not estimate the highest daily balance at an amount that is less than 75 percent of the highest daily balance of the county for the preceding year, less the amount of bond funds received and expended.
(b) Securities pledged to secure county funds on deposit in a depository must be in an amount equal to the amount of those funds. However, real property securities may not be required in an amount greater than 25 percent of the assessed value of the property in the county, as shown by the certified tax roll for the preceding year.
Notes and commentary — not statutory text
History
Acts 1987, 70th Leg., ch. 149, Sec. 1, eff. Sept. 1, 1987.
Source of truth
- Edition
- Current through the 89th 2nd Called Legislative Session, 2025
- Official file
- https://statutes.capitol.texas.gov/Docs/LG/htm/LG.116.htm
- Text hash
- sha256 d30beba629b15658deebe0e7fc3285a3f54215b8ea20813f93382f32b15cd503
- Composed by
- compose_tx.py 2026-10-05: the Legislative Council's chapter files read in document order; verify_tx.py's independent reading (lxml DOM walk) agrees character for character
Procedural information only. Not legal advice and not a substitute for the advice of an attorney. Confirm the current text with the official publisher before relying on it.